Question

: Practice & Problem Solving

Part 1 of 2
Marsha deposited $9,000 into a savings account 3 years ago. The simple interest rate is 5%. How much money did Marsha earn in interest?
Substitute the values into the equation.

Answer 1

Marsha earn $1350.

Explanation:

Given;

• P = $9000
• T = 3 years
• R = 5%

To Find;

• Interest

So,

9000 × 5 × 3 ÷ 100

135000/100

$1350

Thus, Marsha earn $1350.